Friday, January 4, 2013

Payment plans of BPTP Park Floors

BPTP Park Floors is an independent floors project in the Greater Faridabad region, close to the south Delhi areas of the national capital. This project features the apartments in the 2 and 3 BHK configurations with area of 1170 and 1414 square feet respectively. Both these variants have ground plus three configuration. The BPTP builders have provided two types of payment plans for these units. One is the construction linked plan and the other is the down payment plan. Let us have a glimpse of what these plans are and what do these mean for the customers. These plans are made of three components: Basic Sale Price (BSP), Prime Location Charges (PLCs) and the EDC/IDC charges.

Construction linked plan

The construction linked plan, as the name suggests, is based on making the payments as the construction of the units progress and is related with the construction of the various storeys.
At first you are required to pay 10 percent of the BSP as booking amount. Thereafter, within 2 months of the booking date, the balance of the payment to make 20 percent of BSP is required to be done. Thereafter, you are required to pay two instalments of 10 percent of BSP and 25 percent of EDC/IDC charges each within every subsequent period of 60 days. So, after 180 days of booking date (6 months) you would have paid 40 percent of BSP and 50 percent of EDC/IDC charges. In the next 60 days (within 8 months of booking), you are required to pay another 10 percent of BSP and 50 percent of EDC/IDC charge. So, even when the foundation has not yet been laid, you would have paid the 50 percent of BSP and the whole of EDC/IDC charges.

Thereafter, you are required to make the payment with the laying of the foundation. 10 percent of BSP and 25 percent of PLC is paid. After this payment, you will be required to pay the next instalment at the beginning of 2nd floor slab but none during the time of laying of the first floor slab. Thereafter, two more instalments of 10 percent of BSP and 25 percent of PLC are required to be paid at the beginning of the 3rd floor slab and the initiation of the masonary work. By the time the possession is to be delivered, 90 percent of BSP and all extra charges of EDC/IDC and PLC would have been paid. The last instalment of 10 percent BSP is to be paid at the time of offering the possession.

Down Payment Plan

The down payment plan of the BPTP Park Floors Faridabad project comes with a straight 10 percent rebate from the builder. However, to avail of this plan, you are required to make arrangement of almost the full amount within 45 days of initial booking date. You can make the booking with the 10 percent amount and in the next 45 days you are required to complete the payment of a total of 85 percent of BSP and total payment of EDC/IDC/PLC. The last instalment of 5 percent is to be paid at the time of possession of flat.